Bonds’ parent company HanesBrands has reported a 4 per cent uplift in international sales for the first quarter of 2025 on a constant currency basis, with the US-based group reporting revenue growth in Australia and Asia.
However, international sales fell 2 per cent on a reported basis to US$195.5 million (~A$305.7 million), which included a $12 million headwind from unfavourable foreign exchange rates.
Globally, HanesBrands manages Australian-born innerwear business Bonds, as well as Bras N Things and Sheridan.
By 2024 year-end, Bonds managed 140 stores globally, while Sheridan manages around 160 stores. Bras N Things manages over 200 stores globally, with numbers predominately in Australia.
The slip in international sales matched a similar slip in US-based sales for HanesBrands in the last quarter, down 1.4 per cent to US$536.2 million. Despite the revenue slip, operating profit for both US and its international market lifted, with US up 14.2 per cent to US$112.1 million, and the international market up 33.9 per cent to US$22.4 million.
Total net sales for the group in the first quarter was US$760.1 million, driven by other net sales consisting of support from disposed businesses, including the recently sold Champion business last year to Authentic Brands Group.
“We delivered another strong quarter, including revenue, operating profit and earnings per share that exceeded our expectations as we continue to see the benefits of our growth strategy and prior transformation initiatives,” HanesBrands CEO Steve Bratspies said.
“We also reiterated our full-year outlook, which now reflects our expected impact from U.S. tariffs, as the current environment presents challenges but also creates real revenue opportunities.
“We’re confident we can fully mitigate the cost headwinds as we have many levers to pull, including further cost reductions and pricing actions.
“We’re also actively pursuing new revenue opportunities, which we believe we’re in an advantaged position to capture given our western hemisphere supply chain speed and capabilities matched with our strong retailer relationships.”